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10 Fastest-Growing Cities for Small Businesses in the US

·1 min read
Nate Hovee / Getty Images/iStockphoto
Nate Hovee / Getty Images/iStockphoto

The combination of COVID-19 pandemic-related job losses followed by the Great Resignation has been a boon for the rise of small businesses. A recent report from Intuit found that 83% of people who want to start a business said COVID-19 has accelerated their plans. And based on the report's findings, Intuit predicted that 17 million new small businesses would be formed in 2022, which would make it a third consecutive record year for entrepreneurship.

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For those looking to start their own business, where you open up shop could be the key to success. To determine the fastest-growing cities for small businesses, OpenPhone analyzed 1,000 cities across the following factors: (1) year-over-year population growth, (2) number of new business formation applications filed in each county, (3) startup survival rate and (4) small business funding from 2019/2020 to 2021. Based on this analysis, these are the top 10 fastest-growing cities for small businesses.

SeanPavonePhoto / Getty Images/iStockphoto
SeanPavonePhoto / Getty Images/iStockphoto

10. Philadelphia

  • Population: 5,649,300

  • Overall score: 8.29

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Idawriter / Wikimedia Commons CC-BY-SA 3
Idawriter / Wikimedia Commons CC-BY-SA 3

9. Marietta, Georgia

Sean Pavone / Getty Images/iStockphoto
Sean Pavone / Getty Images/iStockphoto

8. Atlanta

TheBronxNYC / Wikimedia Commons
TheBronxNYC / Wikimedia Commons

7. Bronx, New York

rodclementphotography / Getty Images/iStockphoto
rodclementphotography / Getty Images/iStockphoto

6. Alpharetta, Georgia

nikitsin.smugmug.com / Shutterstock.com
nikitsin.smugmug.com / Shutterstock.com

5. Minnetonka, Minnesota

Timothy Dimal / Shutterstock.com
Timothy Dimal / Shutterstock.com

4. Elk Grove, California

Shutterstock.com
Shutterstock.com

3. Folsom, California

Shutterstock.com
Shutterstock.com

2. Bentonville, Arkansas

FoxDon / Wikimedia Commons
FoxDon / Wikimedia Commons

1. Apex, North Carolina

This article originally appeared on GOBankingRates.com: 10 Fastest-Growing Cities for Small Businesses in the US